The known liquid dispensing systems for beverages and concentrated beverage syrups include a pressurized stainless steel dispenser and a more recently developed "bag in a box." The stainless steel dispenser has the advantage of being reusable, however, it is very expensive to manufacture and somewhat heavy and difficult to handle. The "bag in a box," consisting of a separately formed plastic liner in a corrugated paper box, is lighter in weight and less expensive to manufacture, but it is not reusable or recyclable and is susceptible to leakage if dropped. Although it has been suggested to provide a plastic container with a separately formed liner which is inserted in the container, this container has proven to be both too difficult and expensive to manufacture and as such is not commercially feasible. Thus, there exists the need for a dispensing system which will overcome the aforementioned problems.